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There’s not much in the way of major catalysts from the U.K. this week, leaving traders to pay closer attention to Brexit updates.

Brexit developments

  • Sentiment appears to have soured as officials were still unable to come up with an agreement over the weekend
  • Pound bulls are getting frustrated that both sides can’t seem to compromise on fisheries even as the Dec. 31 deadline draws near
  • Indications that a deal could be struck at the last minute might still spur gains for sterling

Technical snapshot

  • Most GBP pairs are looking bullish based on the 50 SMA and 200 SMA
  • Only GBP/AUD and GBP/NZD are in bearish territory
GBP Forex Pairs Moving Averages
GBP Forex Pairs Moving Averages
  • GBP/CAD has been the most volatile among pound pairs based on pip movement in the past seven days
GBP Forex Pairs Volatility from MarketMilk
GBP Forex Pairs Volatility from MarketMilk

Missed last week’s price action? Read GBP’s price recap for Nov. 30 – Dec. 4 !